Density and new transit hub in Downtown Manhattan office market yield superior commutability
Lower Manhattan is served by the brand new, Oculus/Fulton Center transit hub, a subterranean network of rail stops accessing the New Jersey PATH system as well as eleven MTA subway lines. These transportation resources make the market highly accessible to both New Jersey and the outer boroughs, and were completed in 2016.
The market’s density makes the overwhelming majority of office buildings Downtown easily walkable from the major transit hubs – 98% of all Downtown buildings tracked by JLL Research are within a fifteen-minute walk of the Oculus/Fulton Hub, while only 72% of Midtown buildings are within 15 minutes of Grand Central or Penn Station.
The Oculus’ location on the site of the World Trade Center means that the towers in that complex, Downtown’s newest, largest, and most advanced office buildings, are the most accessible in the market; 1, 3, 4, and 7 World Trade Center are each within a five-minute walk.